Coinbase made a faster way to withdraw cryptocurrencies to bank accounts

Cryptocurrency exchange Coinbase is adding a new way to withdraw funds from your Coinbase account. If you’ve added a compatible debit card to your account, you can transfer USD, EUR or GBP to your bank account nearly instantly.

Coinbase has announced the launch of an “instant” withdrawal function, which is available to clients from nearly 40 countries, including the United States, United Kingdom and EU member countries. Users are now able to receive fiat funds in real time on Visa debit cards linked to their account. In the USA the service is also available for Mastercard card holders.

For European clients the fee for instant withdrawal is 2% (minimum €0.52 or £0.45), for US users — 1.5%, but not less than $0.55. Coinbase noted that now users will be able to choose between the methods of withdrawal, because the process can take up to several days with standard methods.

Representatives of Visa and Mastercard stressed that the new service provided an opportunity to instantly convert cryptocurrencies to fiat and use them for payments.

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